CoreFirst Bank & Trust Purchases New Holdings in Summit Materials, Inc. (NYSE:SUM)

CoreFirst Bank & Trust acquired a new position in shares of Summit Materials, Inc. (NYSE:SUM) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,100 shares of the construction company’s stock, valued at approximately $56,000.

A number of other hedge funds have also made changes to their positions in SUM. Congress Wealth Management LLC DE raised its stake in Summit Materials by 1.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 198,713 shares of the construction company’s stock valued at $10,055,000 after purchasing an additional 2,358 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Summit Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after buying an additional 56,602 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Summit Materials in the fourth quarter worth about $1,257,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Summit Materials during the fourth quarter worth about $1,518,000. Finally, Magnetar Financial LLC purchased a new stake in Summit Materials during the 4th quarter valued at about $79,094,000.

Summit Materials Stock Performance

NYSE:SUM opened at $52.54 on Wednesday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 64.07 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 3.10. Summit Materials, Inc. has a fifty-two week low of $34.64 and a fifty-two week high of $54.07. The company has a 50 day moving average price of $52.45 and a 200 day moving average price of $48.19.

Analyst Ratings Changes

SUM has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Summit Materials in a research note on Wednesday, March 19th. They issued a “sell” rating on the stock. Loop Capital reiterated a “hold” rating and set a $52.50 price objective (down previously from $54.00) on shares of Summit Materials in a research report on Tuesday, November 26th. Wolfe Research restated a “peer perform” rating on shares of Summit Materials in a report on Tuesday, November 26th. Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and reduced their price target for the stock from $58.00 to $52.50 in a report on Monday, December 16th. Finally, Stephens lowered shares of Summit Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.67.

About Summit Materials

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.